Mr. Andrew Pollard reports

BLACKROCK SILVER ANNOUNCES SILVER CLOUD RESULTS; TONOPAH WEST RESOURCE UPDATE TIMELINE

Blackrock Silver Corp. has released assay results for its 100-per-cent-controlled Silver Cloud project located in north-central Nevada along the Northern Nevada Rift trend.

Highlights:

• Intercepts up to 2.24 grams per tonne (g/t) gold (Au) were encountered in banded epithermal quartz veins;
• Multiple banded epithermal veins were encountered with drilling, confirming the orientation and dip of the epithermal vein structure with a westerly dip;
• The mineral resource update for the company's Tonopah West project located within the Walker Lane trend in west-central Nevada remains on schedule for completion in October, 2023.

The company completed a core program centred on the Northwest Canyon epithermal vein intercept that encountered 1.52 metres grading 70 g/t gold and 600 g/t silver (Ag) in its 2022 drill program (see Jan. 17, 2023, news release). The 2023 drill program consisted of five core holes totalling 1,827 metres.

The drilling showed the epithermal vein system has a strike with azimuth of 340 degrees and a dip of 60 degrees to the west. The vein structure shows a much shallower dip than originally thought and drill holes were not in the optimum location for the shallow westerly dip. Several permitted sites were not drilled as a result.

Gold and minor silver mineralization was encountered in drill holes SBC23-025 and -026. These holes were 25-metre and 100-metre stepouts located north from the original high-grade bonanza intercept. While the strike and dip of the vein is better understood, the orientation of the high-grade gold and silver is not. The table entitled "2023 assay results above a 0.2 g/t gold cut-off grade" shows assay results above 0.2 g/t gold.

Andrew Pollard, president and chief executive officer of the company, stated: "As we await completion of our updated mineral resource estimate for our flagship Tonopah West project, which remains on track for October, the results from our targeted follow-up campaign at Silver Cloud continue to refine our understanding of the geologic controls of the mineralized system at the Northwest Canyon target. Though we have a good understanding of the strike and orientation of the structure, we have not yet been able to replicate the grades seen in SBC-22-20. A review of the down-hole geochemical data is under way to better pinpoint where the high-grade system is localized."

Drill hole SBC23-022 was drilled up dip of the bonanza intercept in SBC22-020. The drill hole confirmed that gold and silver mineralization are within the lower portion of the Silver Cloud rhyolite. A review of the downhole geochemical data is being undertaken to determine what may be localizing the precious metal mineralization within the rhyolite lithology.

Drill hole SBC23-023 was a 25-metre off-set to the south of SBC22-020. As the orientation has a shallower dip to the west than previously thought, the drill hole passed over the top of the vein and was not a good test of the Northwest Canyon vein system.

Drill hole SBC23-024 was a 25-metre stepout to the north of SBC22-020. The drill hole did not encounter the vein within the lower portion of the Silver Cloud rhyolite but did encounter low-grade gold mineralization.

Drill holes SBC23-025 and SBC23-026 were reoriented as the vein strike was better understood from the previous drill holes. Drill hole SBC23-025 was a 100-metre stepout and the inclination was steepened to correct for the new postulation of the vein orientation. The drill hole encountered the vein at 271 metres down the hole and returned 1.22 metres grading 2.15 g/t gold.

Drill hole SBC23-026 was reoriented with a shallower angle to pierce the westerly dipping vein. The core hole encountered the banded vein at 41 metres and returned up to 2.24 g/t gold.

Quality assurance/quality control

All sampling is conducted under the supervision of the company's project geologists, and a strict chain of custody from the project to the sample preparation facility is implemented and monitored. The core samples are hauled from the project site to a secure and fenced facility in Battle Mountain, Nev., where they are loaded onto American Assay Laboratory's (AAL) flat-bed truck and delivered to AAL's facility in Sparks, Nev., which is an ISO 9001 and 17025 certified and accredited laboratory. A sample submittal sheet is delivered to AAL personnel, who organize and process the sample intervals pursuant to the company's instructions.

The core and QA/QC samples are crushed and pulverized, then the pulverized material is digested and analyzed for Au using fire assay fusion and an induced coupled plasma (ICP) finish on a 30-gram assay split (FA-PB30-ICP). Silver is determined using five-acid digestion and ICP analysis (ICP-5AM48). Overlimits for gold and silver are determined using a gravimetric finish (GRAVAu30 and GRAVAg30). Data verification of the assay and analytical results are completed to ensure accurate and verifiable results. Blackrock personnel insert a blind prep blank, lab blank or a certified standard approximately every 15 to 20 samples.

Blackrock's exploration activities at Silver Cloud are conducted and supervised by William Howald, executive chairman of Blackrock. Mr. Howald, AIPG certified professional geologist No. 11041, is a qualified person as defined under National Instrument 43-101 -- Standards of Disclosure for Mineral Projects. He has reviewed and approved the contents of this news release.

About Blackrock Silver Corp.

Backed by gold and silver ounces in the ground, Blackrock is a junior precious-metal-focused exploration company driven to add shareholder value via the drill bit. With 2.97 million tonnes grading 446 g/t silver equivalent at its Tonopah West project, and a new bonanza-grade gold discovery at Silver Cloud, the company has a proven record of exploration success. In addition to its gold and silver project portfolio, the company is credited with a lithium discovery, the Tonopah North project, which is under option to a major lithium exploration group. Anchored by a seasoned board, the company is focused on its 100-per-cent-controlled Nevada portfolio of properties consisting of low-sulphidation, epithermal gold and silver mineralization located along the established Northern Nevada rift in north-central Nevada and the Walker Lane trend in western Nevada.

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